Stadium findings presented to governor's taskforce

by University News Service

From eNews, January 8, 2004

This week, University of Minnesota officials presented
recommendations for an on-campus Gopher football stadium to the
Governor's Stadium Task Force. The task force, which is charged
with making recommendations by early February for Twins baseball
and Vikings football facilities, invited the University to present
its plans. "This was a great opportunity to explain why we believe
bringing Gopher football back to campus is the best option for the
University and the state of Minnesota," said Joel Maturi, athletics
director. "An on campus stadium will attract more students, fans,
alumni and donors, strengthening pride and people's relationships
to this great University." During the presentation, Maturi evoked
the excitement of marching down University Avenue into the old
Memorial stadium on a crisp fall game day. A generation of
Minnesotans, he said, has not enjoyed a true Big Ten football
experience. In addition to contributing to the collegiate
experience and strengthening alumni and fan connections to the
University, which contributes to the University's overall strength,
Maturi reminded the task force that the University has been playing
Division I football in Minnesota for more than a century. "We're
not going anywhere, and we shouldn't be taken for granted because
of that," he said. Kathleen O'Brien, vice president for University
Services, discussed the University's recommendations for an
on-campus stadium (see eNews December 18). She called the
proposed facility "modern, enduring, but modest." The University
projects the cost to be $180 million, with another $42 million
needed for site preparations and infrastructure improvements,
bringing the total project to an estimated $222 million. University
chief financial officer Richard Pfutzenreuter said officials are
looking at a variety of funding streams, including a substantial
amount of private funding. "Our academic mission remains
paramount," he said. "However, we expect an on-campus Gopher
stadium will attract large sums of private funding that simply
wouldn't come to the University but for this project."
Specifically, Pfutzenreuter said the University is exploring
financing strategies that include private donations, sponsorships,
stadium revenues, student support, and parking revenues. He added
that with a project of this size, no single source of funding would
be sufficient. "If the University raises 60 or 70 percent of the
funding, $6 million annually would cover the debt service and close
that funding gap," he said. The University is not including stadium
funding in its capital request to the Minnesota legislature this
year but will follow the stadium discussions at the capitol during
the session. For the latest on a proposed Gopher stadium, see
www.umn.edu/stadium.